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2/22/24, 3:19 AM Advertising Agreement: Definition & Sample
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An advertising agreement is a legal contract executed between a company hosting the advertising and a
company providing the advertising. For example, there would be an advertising agreement between the
BUSINESS LAWYERS BY TOP CITIE
owner of a billboard and an entity wanting to place an ad on the billboard. Advertising agreements will
vary depending on the companies and the ad medium, but most advertising contracts will include the Austin Business Lawyers
following key information: Boston Business Lawyers
Chicago Business Lawyers

Names and contact information of both businesses
Dallas Business Lawyers
Rate for advertising -Duration the ad will run
Denver Business Lawyers
How the ad will be placed or appear Houston Business Lawyers
Any restrictions that may affect advertising Los Angeles Business Lawyers
New York Business Lawyers

Advertising agreements are important to clearly define each company’s obligations to one another and protect each
company during their business relationship. Phoenix Business Lawyers
San Diego Business Lawyers
Common Sections in Advertising Agreements Tampa Business Lawyers
Below is a list of common sections included in Advertising Agreements. These sections are linked to the See All Business Lawyers
below sample agreement for you to explore.

ADVERTISING AGREEMENT LAWY
Definitions; Construction of Terms Austin Advertising Agreement La

Advertising
Boston Advertising Agreement L
Ad Inventory Valuation and Consideration
Chicago Advertising Agreement
Term and Termination
Dallas Advertising Agreement La
Confidentiality
Denver Advertising Agreement L
Intellectual Property
https://www.contractscounsel.com/t/us/advertising-agreement 1/21
Independent Contractor Houston Advertising Agreement
Representations and Warranties Los Angeles Advertising Agreem
Indemnification New York Advertising Agreemen

Limitations on Liability
Phoenix Advertising Agreement
FCC Requirements
San Diego Advertising Agreeme
Assignment
Tampa Advertising Agreement L
Successors and Assigns
Severability See All Advertising Agreement Lawye
Governing Law; Venue; Jurisdiction; Waiver of Jury Trial

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Amendment or Supplement
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Entire Understanding
Turnaround: Over a week
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Service: Drafting
Attorneys’ Fees Doc Type: Advertising Agreement
Equitable Relief Number of Bids: 2
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Advertising Agreement Sample
Exhibit 6.1
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ADVERTISING AGREEMENT Influencer Campaign Contract
This Advertising Agreement (this “Agreement”) is effective as of September 26, 2018 (the “Effective Date”) and is entered into between Hightimes Location: New York
Holding Corp., a Delaware corporation (“Customer”), and iHeartMedia + Entertainment, Inc., a Nevada corporation (“iHeartMedia” and, together with
Customer, the “Parties”). Each party to this Agreement may also be referred to individually as a “Party.” Turnaround: Less than a week
Service: Drafting
RECITALS
Doc Type: Advertising Agreement
WHEREAS, Customer and Broader Media Holdings, LLC (“BMH”), an Affiliate of iHeartMedia, are parties to that certain Convertible Note, dated as
of the Effective Date, with an initial principal amount of $5,000,000 (the “Note”); Number of Bids: 6
Bid Range: $500 - $2,000
WHEREAS, concurrently with the execution and delivery of this Agreement, the Note is being issued by Customer to BMH in consideration of a
commitment from iHeartMedia under this Agreement to provide to Customer (on behalf of BMH) advertising media inventory (“Ad Inventory”) having an
aggregate Value (as defined in Section 3.3) of $5,000,000 (the “Initial Promotion Commitment Tranche”); User Feedback:
WHEREAS, in addition to the Initial Promotion Commitment Tranche, the Parties may agree from time to time during the Term (as defined in Section
4.1), to have iHeartMedia provide to Customer (on behalf of BMH) additional Ad Inventory having an aggregate value of up to an additional $5,000,000 (the Daniel was quick to update and ea
“Maximum Additional Promotion Commitment Amount”), in one or more tranches (each such tranche and the Initial Promotion Commitment Tranche, a communicate with. He worked with
“Promotion Commitment Tranche”), in each case in consideration of an increase in the principal amount of the Note equal to the amount of the applicable
the back-and-forth changes we n
Promotion Commitment Tranche, up to, in the aggregate, the Maximum Additional Promotion Commitment Amount, as set forth in the Note;
make with the client. He revised ac
WHEREAS, in connection with the Initial Promotion Commitment Tranche, Customer has agreed to use its best efforts to purchase $250,000 of and followed thru till the end.
additional Ad Inventory in cash and, in connection with each other Promotion Commitment Tranche (if applicable), Customer agrees to use its best efforts to
purchase $50,000 of additional Ad Inventory in cash for each $1,000,000 in amount of such Promotion Commitment Tranche;
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WHEREAS, in addition to and separate from the Promotion Commitment Tranches, the Parties may agree from time to time during the Term that
iHeartMedia shall purchase on behalf of Customer and deliver for Customer Ad Inventory owned or controlled by third parties rather than by iHeartMedia or its
Affiliates (“Third-Party Ad Inventory”), in each case in consideration of Customer’s reimbursement to iHeartMedia in cash of the purchase price paid by
iHeartMedia for such Third-Party Ad Inventory plus an Agency Fee (as defined herein) calculated thereon; RELATED CONTRACTS
WHEREAS, Customer desires iHeartMedia to provide (with respect to the Promotion Commitment Amount, on behalf of BMH), and iHeartMedia
desires to provide (with respect to the Promotion Commitment Amount, on behalf of BMH), Ad Inventory to Customer pursuant to the terms and conditions Accounts Receivable Purchase C
below;
Affiliate Agreement
Bill of Sale
Boat Purchase Agreement
Brand Ambassador Contract
Business Proposal
Consignment Agreement
Contract for Purchase
Distribution Agreement
Distributor Settlement Agreeme
See More Contracts

AGREEMENT
OTHER HELPFUL ARTICLES
NOW, THEREFORE, in consideration of the mutual promises and covenants set forth in this Agreement and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:
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1. Definitions; Construction of Terms. Unless specifically stated otherwise herein, terms used herein with initial capital letters and not otherwise defined herein
shall have the respective meanings set forth in Appendix 1.
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2. Advertising.
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2.1. Promotion Commitment Amount; Cash Commitment; Third-Party Ad Inventory; Media Plan.
2.1.1. As used herein, the term “Promotion Commitment Amount” shall mean, at any given time, the aggregate then unused amounts of all Promotion Review Contract
Commitment Tranches. iHeartMedia shall provide Customer with (on behalf of BMH) Ad Inventory with aggregate Fees (as defined in Section 3.1) totaling the
Promotion Commitment Amount (as in effect from time to time), as set forth in one or more mutually agreeable media plans agreed upon (email sufficing) by
the Parties from time to time (each, a “Media Plan”). In connection with the Initial Promotion Commitment Tranche, Customer agrees that it shall use its best
efforts to purchase $250,000 of additional Ad Inventory in cash prior to October 31, 2018 and, in connection with each other Promotion Commitment Tranche
(if applicable), Customer agrees to use its best efforts to purchase at least $50,000 of additional Ad Inventory for each $1,000,000 in amount of such Promotion
Commitment Tranche (with respect to each Promotion Commitment Tranche, the “Associated Cash Commitment”), which shall be invoiced and paid for by
Customer in accordance with Section 3. The Parties will specify in each Media Plan (i) the portion of the Promotion Commitment Amount to be used pursuant
to such Media Plan, (ii) the Associated Cash Commitment, (iii) the Third-Party Ad Inventory to be purchased and delivered pursuant to such Media Plan, and
(iv) the Agency Fees (as defined below) associated with such Third-Party Ad Inventory, as applicable. Each such Media Plan shall be deemed an appendix to,
and constitute a part of, this Agreement as if fully set forth in this Agreement. The Media Plan for the Initial Promotion Commitment Tranche and the initial
Associated Cash Commitment is the initial Media Plan agreed upon by the Parties hereunder, which, if not already agreed upon as of the Effective Date, shall
be agreed upon by the Parties on or before September 29, 2018 (the “Initial Media Plan”). The Parties acknowledge and agree that some or all of the Promotion
Commitment Amount may have, as of the Effective Date, already been fulfilled by iHeartMedia in the form of Ad Inventory delivered pursuant to the Initial
Media Plan, all of which (if any) shall be deemed Ad Inventory delivered under this Agreement.
2.1.2. From time to time during the Term, in addition to and separate from the Promotion Commitment Tranches, the Parties may agree that
iHeartMedia shall purchase on behalf of Customer and deliver for Customer certain Third-Party Ad Inventory totaling $250,000 or greater in purchase price in
each instance (each, a “Third-Party Ad Inventory Tranche”). To the extent the Parties agree to any purchase of Third-Party Ad Inventory: (i) such Third-Party
Ad Inventory Tranche and the associated Third-Party Ad Inventory shall be set forth in a Media Plan (and, to the extent included in a Media Plan that also
includes Ad Inventory provided as part of the Promotion Commitment Amount, shall be identified on such Media Plan as Third-Party Ad Inventory to be paid
for in cash), (ii) at the end of each calendar month during which iHeartMedia has delivered any Third-Party Ad Inventory for Customer, iHeartMedia shall
invoice Customer for an amount equal to the sum of (y) the actual cost paid by iHeartMedia for such Third-Party Ad Inventory and (z) an agency fee therefor
calculated as ten percent (10%) of such actual cost (an “Agency Fee” and, such sum, a “Third-Party Ad Inventory Payment”), and (iii) Customer shall pay to
iHeartMedia in cash via a wire transfer of immediately available funds, in accordance with iHeartMedia’s instructions, the amount of such Third-Party Ad
Inventory Payment within thirty (30) days following the date of iHeartMedia’s invoice. For the avoidance of doubt, the Promotion Commitment Amount shall
not be applicable toward any Third-Party Ad Inventory Payment or any portion thereof, all of which shall be payable only in cash. After Customer has paid
iHeartMedia for a total of $500,000 of Third-Party Ad Inventory pursuant to this Section 2.1.2, if applicable, Customer shall have the right to cancel any then
undelivered portion of Third-Party Ad Inventory in a Media Plan upon written notice to iHeartMedia, provided that such notice is received by iHeartMedia at
least two (2) weeks prior to the date on which such undelivered Third-Party Ad Inventory is to be delivered.
2.2. Ad Inventory. iHeartMedia may provide Ad Inventory through one or more Affiliates or third-party contractors. To the extent Ad Inventory on a
specific property is set forth in a Media Plan as to be delivered as part of the Promotion Commitment Amount, if such specific property is not owned and
operated by iHeartMedia or its Affiliate at the time the applicable Ad Inventory is to be delivered, then iHeartMedia shall not be obligated to deliver such Ad
Inventory and reserves the right to substitute such Ad Inventory with other Ad Inventory of, in the aggregate, equal Value on properties owned and operated by
iHeartMedia, which shall be subject to Customer’s reasonable approval, not to be unreasonably withheld, conditioned or delayed; provided, however, the
iHeartMedia shall not have any obligation to deliver such replacement Ad Inventory unless and until the Parties agree thereon. All material to be transmitted or
used in Ad Inventory under this Agreement shall be furnished by Customer, and all reasonable expenses of delivery to iHeartMedia and return to Customer, if so
directed, shall be paid by Customer. Customer shall be solely responsible for, and shall reimburse iHeartMedia for (to the extent paid for by iHeartMedia), any
and all hard costs incurred in creating or delivering Ad Inventory for Customer, including fees for the use of on air personalities, creative services fees (e.g., for
developing display or video creative), third-party market research reports or data analytics, advertising agency fees, costs associated with iHeartMedia events,
and other costs that are not internal iHeartMedia operating costs (collectively, “Hard Costs”), provided that iHeartMedia has obtained prior written approval
from Customer to incur such Hard Costs (it being understood and agreed that approval via e-mail or by approving a Media Plan that specifies the Hard Costs
shall be deemed written approval). For the avoidance of doubt, the Promotion Commitment Amount shall not be applicable against any Hard Costs. At the end
of each calendar month, iHeartMedia shall invoice Customer for any Hard Costs paid by iHeartMedia during such calendar month and Customer shall pay to
iHeartMedia in cash via a wire transfer of immediately available funds, in accordance with iHeartMedia’s instructions, the amount of such Hard Costs within
thirty (30) days following the date of iHeartMedia’s invoice. Under this Agreement, iHeartMedia shall itself pay for a total of $25,000 of Hard Costs that would
otherwise be payable by Customer for the development of audio assets with third parties mutually agreed upon by the Parties.
2.3. Additional Promotion Commitment Tranches. The Parties may, from time to time during the Term, agree to have iHeartMedia commit to provide
(on behalf of BMH) to Customer one or more additional Promotion Commitment Tranches, in which case, on the date of such agreement, the Principal Amount
of the Note shall be automatically increased, pursuant to the Note, by the amount of such additional Promotion Commitment Tranche, and the then current
Promotion Commitment Amount shall be automatically increased by the amount of such additional Promotion Commitment Tranche; provided, however, that
(i) the amount of each such additional Promotion Commitment Tranche shall be either $1,000,000 or a multiple of $1,000,000, and (ii) the total dollar amount
of all additional Promotion Commitment Tranches (i.e., all Promotion Commitment Tranches other than the Initial Promotion Commitment Tranche) shall not
in the aggregate exceed the Maximum Additional Promotion Commitment Amount.
3. Ad Inventory Valuation and Consideration.
3.1. Fees. The fees for the Ad Inventory shall be the applicable Values (as defined in Section 3.3) for the Ad Inventory, unless otherwise set forth in a
Media Plan (collectively, the “Fees”). Fees for Ad Inventory other than Third-Party Ad Inventory and Ad Inventory to be paid for with an Associated Cash
Commitment will be applied against the then-remaining Promotion Commitment Amount. Customer’s payment obligations under this Agreement are non-
cancelable and Fees paid or applied against the Promotion Commitment Amount are nonrefundable. At the end of each calendar month during the Term during
which iHeartMedia has delivered any Ad Inventory for Customer that is to be covered by an Associated Cash Commitment amount pursuant to a Media Plan, (i)
iHeartMedia shall invoice Customer for the Fees for such Ad Inventory, and (ii) Customer shall pay to iHeartMedia in cash via a wire transfer of immediately
available funds, in accordance with iHeartMedia’s instructions, such Fees within thirty (30) days following the date of iHeartMedia’s invoice. For the avoidance
of doubt, Section 2.1.2, rather than the foregoing sentence, shall apply with respect to all Third-Party Ad Inventory.
3.2. Taxes. Unless otherwise stated in writing, iHeartMedia’s Fees (including Associated Cash Commitment and Third-Party Ad Inventory Payment
amounts) and Hard Costs do not include any taxes, levies, duties or similar governmental assessments of any nature, including value-added, sales and use, or
withholding taxes, assessable by any local, state, provincial, federal or foreign jurisdiction (collectively, “Taxes”). Customer is responsible for paying all Taxes
associated with its purchases and payments hereunder. If iHeartMedia has the legal obligation to pay or collect Taxes for which Customer is responsible under
this Section 3.2, the appropriate amount shall be invoiced to and paid by Customer, unless Customer provides iHeartMedia with a valid tax exemption
certificate authorized by the appropriate taxing authority. Notwithstanding anything to the contrary in this Agreement, iHeartMedia shall not deliver for
Customer any Ad Inventory to which Taxes are applicable without the consent of Customer (which may be provided via email or by agreeing to a Media Plan
that includes such Ad Inventory). For clarity, iHeartMedia is solely responsible for taxes assessable against it based on its income.
3.3. Media Valuation. Customer agrees that the types of Ad Inventory that may be delivered pursuant to this Agreement are set forth on the Ad
Inventory valuation schedule attached to the Initial Media Plan (the “Valuation Schedule”) and shall be valued as set forth in such Valuation Schedule (such
Ad Inventory’s “Value”), which Values shall reflect a twenty-five percent (25%) discount off of iHeartMedia’s rate card; provided, however, that the Valuation
Schedule may be amended to include additional types of Ad Inventory upon mutual written agreement by the Parties and the Parties may, for subsequent Media
Plans, negotiate in good faith different Values for Ad Inventory based on then-current market prices. Upon Customer’s request from time to time, iHeartMedia
will inform Customer of any types of Ad Inventory not set forth on the then-current Valuation Schedule that can be made available to Customer under this
Agreement and the Values associated with each such type of Ad Inventory.
4. Term and Termination.

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4.1. Term of the Agreement. The term of this Agreement shall commence on the Effective Date and shall continue until the earliest to occur of (a) the
date on which the Maximum Promotion Commitment Amount has been depleted, (b) October 31, 2018 or, if applicable, such later date as may be agreed upon
by iHeartMedia and the Customer in writing, and (c) the earlier date on which this Agreement is terminated pursuant to Section 4.2 (if applicable) (the “Term”).
4.2. Termination.
4.2.1. iHeartMedia may terminate this Agreement upon Notice to Customer if (i) Customer makes a general assignment for the benefit of its creditors
or files a voluntary petition under any bankruptcy or insolvency law, under the reorganization or arrangement provisions of the United States Bankruptcy Code,
or under the provisions of any law of like import, (ii) an involuntary petition is filed against Customer under any bankruptcy or insolvency law, under the
reorganization or arrangement provisions of the United States Bankruptcy Code, or under any law of like import, which petition remains un-dismissed or un-
stayed for a period of 60 days, or (iii) a trustee or receiver is appointed for Customer or its property.
4.2.2. Customer shall promptly notify iHeartMedia in writing if (i) Customer is not able to pay its debts and obligations as they come due in the
ordinary course of its business, (ii) Customer ceases to be a going concern, (iii) Customer’s then current cash balance is less than $250,000, or (iv) a Change of
Control of Customer occurs (each such circumstance, a “Deficiency” and each such Notice, a “Deficiency Notice”). As used herein, “Change of Control” shall
mean: (A) the sale of all or substantially all of the consolidated assets of Customer to an independent third party purchaser or to an iHeartMedia Competitor; (B)
a sale resulting in no less than a majority of the Common Stock (or other voting stock of Customer), on a fully diluted basis being, held by an independent third
party purchaser that (I) is an iHeartMedia Competitor, or (II) is not an Affiliate of Customer or any stockholder of Customer; or (C) a merger, consolidation,
recapitalization or reorganization of Customer with or into an independent third party that (I) is an iHeartMedia Competitor, or (II) is not an Affiliate of
Customer or any stockholder of Customer and that, in the case of this clause (II), results in the inability of the stockholders of Customer as of immediately prior
to the consummation of such transaction to designate or elect a majority of the board of directors (or its equivalent) of the resulting entity or its parent company
following the consummation of such transaction. In the event of any Deficiency (regardless of whether Customer actually delivers a Deficiency Notice to
iHeartMedia), iHeartMedia shall have the right to terminate this Agreement immediately upon Notice to Customer; provided, however, that the Note shall
remain issued and outstanding.
4.3. Survival. Any provision of this Agreement that, pursuant to its terms, is operative or contemplates performance after the end of the Term or that
relates to any obligation accrued as of the end of the Term shall survive the end of the Term. In addition, the following Sections of this Agreement shall survive
any termination or expiration of this Agreement: Section 2.2 (with respect to Hard Costs), Section 2.1.2 (with respect to Third-Party Ad Inventory Payment
amounts) and Sections 3.2 and 4-23 (inclusive). For the avoidance of doubt, upon and following the expiration or termination of this Agreement, iHeartMedia
shall not have any obligations with respect to Ad Inventory or Third-Party Ad Inventory (including to deliver Ad Inventory or Third-Party Ad Inventory for
Customer).
5. Confidentiality.
5.1. Duty of Confidentiality. Each of Customer and iHeartMedia expressly acknowledges that in the course of its performance hereunder, it may learn
or have access to Confidential Information of the other Party or its Affiliates, or their customers or third parties to whom the other Party or its Affiliates owe a
duty of confidentiality. Anything in the Agreement to the contrary notwithstanding, each Party expressly agrees that it shall keep strictly confidential the
Confidential Information of the other Party using the same standard of care (which shall be at least a reasonable standard of care) that such Party uses in the
protection of its own confidential or proprietary information.
5.2. Exclusions to Duties of Confidentiality. The foregoing duties of confidentiality set forth in Section 5.1 shall not apply to any particular information
that the Receiving Party can show: (a) was or has later become available to the public through no breach of this Agreement; (b) was obtained from a third party
lawfully in possession of such information that had the legal right to disclose the information without it being subject to a continuing obligation of
confidentiality; (c) was already in the Receiving Party’s possession prior to direct or indirect disclosure pursuant to this Agreement (or any predecessor
agreement between the Parties governing the confidentiality of such information) and was not generated in the course of, or in connection with, this Agreement;
or (d) was disclosed only after receipt of prior written approval from a duly authorized representative of the Disclosing Party.
5.3. Legally Required Disclosures.
5.3.1 If (a) a Party is legally required by an official written request by the Securities and Exchange Commission (“SEC”) or its staff pursuant to the
Securities Act of 1933 (the “Securities Act”), the Securities Exchange Act of 1934 (the “Exchange Act”), or any of the rules and regulations promulgated by the
SEC thereunder (all of the foregoing, collectively, “Securities Laws and Regulations”) to make any public filing, public statement, press release or disclosure
to any third party of any of the other Party’s Confidential Information (each of the foregoing, “Disclose” or a “Disclosure”), (b) on the advice of its outside
legal counsel, a Party determines that such Party is legally required by applicable laws, rules or regulations (including Securities Laws and Regulations) to
Disclose any of the other Party’s Confidential Information, or (c) on the advice of its outside legal counsel, a Party determines that such Party is legally required
to Disclose any of the other Party’s Confidential Information in response to a discovery request, a subpoena or an official written inquiry issued by a court of
competent jurisdiction or by a judicial, administrative, regulatory or governmental agency or a legislative body or committee (each of the foregoing
circumstances in clauses (a), (b) and (c), a “Disclosure Requirement”), then such Party shall give prompt Notice (as defined below) of such Disclosure
Requirement to the other Party, which Notice shall (i) if given with respect to any request, subpoena or official written inquiry specified in clause (a) or (c)
above, be delivered as promptly as practicable after such Party’s receipt of such request, subpoena or official written inquiry, or (ii) if given with respect to a
determination of a requirement to Disclose as set forth in clause (b) above, be delivered no less than four business days prior to the earlier of (A) the date on
which such Party seeks to make the required Disclosure and (B) the deadline for making the required Disclosure pursuant to the applicable Securities Laws and
Regulations or other law, rule or regulation. As used in this Section 5.3, all references to Customer shall be deemed to refer to Customer and its Affiliates and all
references to a Party shall be deemed to refer to either (I) Customer and its Affiliates or (II) iHeartMedia, as applicable.
5.3.2 With respect to each Disclosure Requirement: (a) the Party seeking to make the Disclosure shall give reasonable and good faith consideration to
any reasonable advice or request provided by the other Party or any of its legal counsel regarding methods to prevent Disclosure of, or reasons to not Disclose,
the relevant Confidential Information, and (b) the Party seeking to make the Disclosure shall use reasonable efforts to prevent Disclosure of all or any part of
any Confidential Information, including redaction of such Confidential Information from the applicable registration statement or report filed under the
Securities Act or the Exchange Act (including redactions pursuant to a confidential treatment request submitted pursuant to Rule 406 under the Securities Act or
Rule 24b-2 under the Exchange Act), if applicable, or from the response to the applicable discovery request, subpoena or official written inquiry, and such Party
shall reasonably cooperate with the other Party in seeking appropriate confidential treatment, protective orders or modifications of any Disclosures pursuant to
the applicable Disclosure Requirement or to otherwise intervene, prevent, delay or affect the response to the Disclosure Requirement. Without limiting any
other terms set forth in this Agreement, with respect to a Disclosure Requirement a Party in any event (i) shall not Disclose any more Confidential Information
than its outside securities law counsel (with respect to Disclosures required by Securities Laws and Regulations) or other outside legal counsel (with respect to
other Disclosure Requirements) advises such Party it is legally required to disclose pursuant to such Disclosure Requirement, and (ii) shall not Disclose
Confidential Information in any manner other than as necessary to satisfy the applicable Disclosure Requirement.
5.3.3 Notwithstanding anything to the contrary in this Agreement, Customer acknowledges and agrees that (a) the Media Plan(s) and the Valuation
Schedule, which documents contain advertising inventory pricing and strategic commercial information, are proprietary to iHeartMedia, and (b) it shall not
under any circumstances make any Disclosure of any Media Plan or the Valuation Schedule (including any information contained therein), except to the limited
extent necessary to respond to (i) an official written request by the SEC, pursuant to Securities Laws and Regulations applicable to Customer, that specifically
names and requires Disclosure of the Media Plan(s) or the Valuation Schedule, as applicable, or (ii) a Disclosure Requirement set forth in clause (c) of Section
5.3.1 that specifically names and requires Disclosure of the Media Plan(s) or Valuation Schedule, as applicable, in which case of either clause (i) or (ii) the
provisions of Sections 5.3.1 and 5.3.2 shall apply to such requested and required Disclosure.
6. Intellectual Property.
6.1. Customer Content. Other than as set forth in this Section 6.1, iHeartMedia shall acquire no right, title or interest from Customer or its licensors
under this agreement in or to any content provided by Customer (“Customer Materials”). During the Term, Customer hereby grants to iHeartMedia a royalty-
free, non-exclusive, sublicensable (solely to Affiliates or contractors of iHeartMedia in furtherance of this Agreement), irrevocable (during the Term),
worldwide right and license to reproduce, distribute, display and prepare derivative works of the Customer Materials solely for purposes of providing the Ad
Inventory to Customer in accordance with this Agreement and any applicable Media Plan.
6.2. Joint Materials. In the case where iHeartMedia creates custom materials, including broadcast advertisements, digital banner advertisements or any
other creative materials that incorporate any Customer Materials (“Joint Materials”), Customer acknowledges and agrees that Customer may only use the Joint
Materials for the limited purposes set forth in a Media Plan. Customer hereby assigns (and if requested will execute confirmatory assignment instruments to
assign) all rights, title, interest in, to and under, the Joint Materials (other than rights in any underlying Customer Materials) to iHeartMedia. Customer shall
have no right or license to use the Joint Materials other than as set forth in a Media Plan and shall not acquire any ownership or other interest in any portions of
the Joint Materials not comprising Customer Materials.
7. Independent Contractor. This Agreement shall not render iHeartMedia or its employees or subcontractors, if any, an employee, partner, agent of, or joint
venturer with the Customer for any purpose. iHeartMedia is and will remain independent in its relationship to the Customer. Neither party shall have any right,
power, or authority to create any contract or obligation on behalf of, or binding upon the other party without prior written consent of the other party.
8. Representations and Warranties.


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8.1. Mutual. Each Party represents and warrants to the other Party that: (a) it is duly organized and validly existing under the laws of the state under
which it is organized, with the requisite power and authority to own and use its properties and assets and to carry on its business as currently conducted; (b) it
has the power and authority to enter into this Agreement and to perform fully its obligations hereunder; (c) it is under no contractual or other legal obligation
that interferes in any way with its full, prompt and complete performance hereunder; (d) the individual executing this Agreement on its behalf has the authority
to do so; and (e) this Agreement constitutes the legal, valid and binding obligation of such Party, enforceable against it in accordance with its terms.
8.2. Customer Warranties. Customer represents and warrants to iHeartMedia that: (a) it will perform all obligations under this Agreement in
compliance with all applicable laws, regulations, and other court or governmental orders; (b) it will comply with all applicable laws, regulations and other court
or governmental orders in connection with its use of the Ad Inventory; (c) the Customer Materials, and their use in connection with the Ad Inventory, do not and
shall not infringe upon the intellectual property or other proprietary rights of any third party; (d) the Customer Materials and the use thereof (including
iHeartMedia’s broadcasting over its facilities or display in its digital properties of the Customer Materials) in accordance with this Agreement shall not (i)
violate the rights of others, including with respect to defamation, unlawful competition or trade practice, or privacy or personal rights (including public
performance rights with respect to music, spoken word or any other copyrightable material embodied in Customer Materials), or (ii) violate any applicable
laws, rules or regulations relating to privacy or broadcast indecency; (e) Customer (and the Customer Materials) and the subject matter that it advertises using
the Ad Inventory, and iHeartMedia`s delivery of Ad Inventory for Customer under this Agreement, shall comply with all applicable federal, state and local laws
and regulations, including those of the FCC (e.g., indecency, EAS compliance and all other FCC or FTC regulations) and the Securities Laws and Regulations;
and (f) none of the SEC Reports (as defined in the Note), contains any untrue statement of a material fact or omits to state a material fact required to be stated
therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading, and no Customer
Materials, no Customer website, no Customer marketing materials and no statements made by or on behalf of Customer, whether prior to, on or after the
Effective Date, relating to Customer’s Regulation A+ Offering that it is conducting as of the Effective Date, contains or will contain any untrue statement of a
material fact or omits or will omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the
circumstances under which they were made, not misleading.
8.3. Disclaimer. EXCEPT AS EXPRESSLY PROVIDED HEREIN, NEITHER PARTY MAKES ANY REPRESENTATIONS OR WARRANTIES OF
ANY KIND, WHETHER EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, AND EACH PARTY SPECIFICALLY DISCLAIMS ALL IMPLIED
WARRANTIES, INCLUDING ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, TO THE MAXIMUM
EXTENT PERMITTED BY APPLICABLE LAW.
9. Indemnification.
9.1. Indemnification by iHeartMedia. iHeartMedia shall defend, indemnify and hold harmless the Customer Indemnified Parties, in accordance with
the applicable procedures described in Section 9.3, from and against any and all Losses to the extent arising out of, or relating to, third-party Claims that
Customer’s permitted use under this Agreement of the Ad Inventory infringes, misappropriates, or otherwise conflicts with any intellectual property rights of a
third party. iHeartMedia’s indemnification obligations under this Section 9.1 shall not extend to any Claims to the extent resulting from, or relating to, any
Customer Materials.
9.2. Indemnification by Customer. Customer shall defend, indemnify and hold harmless the iHeartMedia Indemnified Parties, in accordance with the
applicable procedures described in Section 9.3, from and against any and all Losses to the extent arising out of, or relating to, third-party Claims arising out of:
(a) Customer’s breach of any of Customer’s representations, warranties, covenants or agreements set forth herein; (b) any gross negligence or intentional
misconduct of Customer or any of its employees and agents in connection with this Agreement; (c) the actual or alleged infringement by any Customer
Material, or the use thereof in connection with the Ad Inventory, of the intellectual property or other proprietary rights of any third party; (d) any Customer
Material violating or infringing upon the rights of others, including with respect to defamation, unlawful competition or trade practice, or privacy or personal
rights (including public performance rights with respect to music, spoken word or any other copyrightable material embodied in Customer Material), or any
Customer Material or advertising delivered for Customer using Ad Inventory (or iHeartMedia’s delivery thereof) violating any applicable laws, rules or
regulations, including the Securities Laws and Regulations or those relating to privacy or broadcast indecency; or (e) Customer’s sale or offering for sale of any
of its securities, including its Regulation A+ offering that it is conducting as of the Effective Date.
9.3. Indemnification Process. The Indemnified Party will notify the Indemnifying Party promptly in writing of any Claim for which it seeks
indemnification hereunder, provided that the failure of the Indemnified Party to promptly inform the Indemnifying Party of any Claim shall not excuse the
Indemnifying Party of its obligations under this Section 9 except to the extent such failure materially prejudices the Indemnifying Party. In the case of a third-
party Claim, the Indemnified Party will provide, at the Indemnifying Party’s expense (to the extent of out-of-pocket expenses only), all reasonably necessary
assistance, information and authority to allow the Indemnifying Party to control the defense and settlement of such third-party Claim. Notwithstanding the
foregoing, the Indemnifying Party shall not enter into any settlement of any Claim without the Indemnified Party’s prior written consent unless such settlement
(a) does not admit any fault or guilt of the Indemnified Party or impose any obligations on the Indemnified Party, (b) provides that the sole relief is money
damages that are paid in full by the Indemnified Party, and (c) includes a release of the Indemnified Party from all liability for such Claim or a complete
dismissal of litigation with prejudice. The Indemnified Party may participate at its expense in the defense or settlement of any Claim with counsel of its
choosing and at its sole expense.
10. Limitations on Liability.
10.1. Exclusion of Certain Damages. NOTWITHSTANDING ANY PROVISION OF THIS AGREEMENT THAT MAY BE TO THE CONTRARY,
AND EXCEPT FOR THE INDEMNIFICATION OBLIGATIONS OF EACH PARTY UNDER SECTION 9.1 AND SECTION 9.2, NEITHER PARTY NOR
ANY OF ITS AFFILIATES NOR ANY OF ITS OR ITS AFFILIATES’ RESPECTIVE EQUITY HOLDERS, DIRECTORS, OFFICERS, EMPLOYEES,
AGENTS, SUB-CONTRACTORS OR LICENSORS, SHALL BE LIABLE TO THE OTHER PARTY, ANY OF THE OTHER PARTY’S AFFILIATES OR
ANY OF THE OTHER PARTY’S OR THE OTHER PARTY’S AFFILIATES’ RESPECTIVE EQUITY HOLDERS, DIRECTORS, OFFICERS, EMPLOYEES,
AGENTS, SUB-CONTRACTORS OR LICENSORS, FOR CLAIMS FOR INCIDENTAL, INDIRECT, PUNITIVE, EXEMPLARY, CONSEQUENTIAL, OR
SPECIAL DAMAGES, INCLUDING ANY DAMAGES FOR LOSS OF PROFITS, LOSS OF USE OR REVENUE, LOSS OF SAVINGS, OR LOSSES BY
REASON OF COST OF CAPITAL, CONNECTED WITH, OR ARISING OR RESULTING FROM, ANY PERFORMANCE OR LACK OF PERFORMANCE
UNDER OR OTHER BREACH OF THIS AGREEMENT, EVEN IF SUCH DAMAGES WERE FORESEEABLE OR THE PARTY SOUGHT TO BE HELD
LIABLE WAS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, AND REGARDLESS OF WHETHER A CLAIM IS BASED ON CONTRACT,
WARRANTY, TORT (INCLUDING NEGLIGENCE OR STRICT LIABILITY), OR ANY OTHER LEGAL OR EQUITABLE PRINCIPLE. THE
FOREGOING DISCLAIMER SHALL NOT APPLY TO THE EXTENT PROHIBITED BY APPLICABLE LAW.
10.2. Exclusive Remedy. THE SOLE AND EXCLUSIVE REMEDY AVAILABLE TO ANY CUSTOMER INDEMNIFIED PARTY UNDER THIS
AGREEMENT FOR ANY FAILURE BY IHEARTMEDIA TO DELIVER ANY AD INVENTORY IN ACCORDANCE WITH THIS AGREEMENT,
REGARDLESS OF WHETHER A CLAIM IS BASED ON CONTRACT, WARRANTY, TORT (INCLUDING NEGLIGENCE OR STRICT LIABILITY) OR
ANY OTHER LEGAL OR EQUITABLE PRINCIPLE, SHALL BE THAT IHEARTMEDIA WILL BE REQUIRED TO DELIVER THE APPLICABLE
CANCELLED OR UNAIRED AD INVENTORY IN A COMPARABLE TIME PERIOD, AS MUTUALLY AGREED-UPON BY THE PARTIES (NOT TO BE
UNREASONABLY WITHHELD, CONDITIONED OR DELAYED).
10
11. FCC Requirements.
11.1. Non-Discrimination. In accordance with Paragraphs 49 and 50 of United States Federal Communications Commission Report and Order No.
FCC 07-217, iHeartMedia will not discriminate in any contract for advertising on the basis of race or ethnicity, and all such contracts will be evaluated,
negotiated and completed without regard to race or ethnicity.
11.2. Broadcasting. This Agreement is for the transmission by broadcast on radio, transmission on other media when Internet is indicated, or both, of
programs or announcements of the Customer for the purpose of advertising the named products or services and is subject to all applicable federal, state and
municipal regulations, including the rules of the Federal Communications Commission and the Federal Trade Commission. All Customer Materials are subject
to iHeartMedia’s approval (such approval not to be unreasonably withheld or delayed) and iHeartMedia may exercise a continuing right to reject such Customer
Material, including a right to reject for unsatisfactory technical quality. All Customer Material must conform to iHeartMedia’s program and operating policies
and iHeartMedia shall have the continuing right to edit in the public interest; provided, however, that iHeartMedia approval of such material shall not affect
Customer’s indemnity obligation under this Agreement.
11.3. Inability to Transmit and Substitution Programs. If, due to public emergency or necessity, force majeure, restrictions imposed by law, acts of God,
labor disputes, or for other cause, including mechanical breakdown, beyond iHeartMedia’s control, iHeartMedia shall be unable to transmit any program or
announcement to be transmitted under this contract, that transmission shall be canceled and iHeartMedia shall not be liable to Customer except as provided
below. iHeartMedia shall have the right to cancel any transmission or portion thereof to be made under this Agreement in order to transmit any program which
it deems to be of public significance. iHeartMedia will notify Customer in advance if reasonably possible or otherwise iHeartMedia will notify Customer within
a reasonable time after such scheduled transmission. iHeartMedia shall transmit such canceled transmission, subject to availability, in a comparable time period.
12. Assignment. Customer shall not assign any of its rights under this Agreement, or delegate the performance of any of its duties hereunder, without the prior
written consent of iHeartMedia.
13. Successors and Assigns. All the provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, if
any, successors and permitted assigns.


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11
14. Severability. If any provision of this Agreement is held to be invalid by a court of competent jurisdiction, then such provision shall be deemed severed
herefrom, and such invalidity shall not affect any other provision of this Agreement, the balance of which shall remain in and have its intended full force and
effect; provided, however, that if any such provision may be modified so as to be valid as a matter of law, then such provision shall be deemed to have been
modified so as to be enforceable to the maximum extent permitted by law.
15. Governing Law; Venue; Jurisdiction; Waiver of Jury Trial. This Agreement shall be governed by and construed in accordance with the laws of New York
without giving effect to any choice of law or conflict of law rules. Each Party consents to the jurisdiction and venue of the federal, state and local courts located
in New York City, NY. Any legal suit, action or proceeding brought under or in connection with the subject matter of this Agreement will be brought only in the
United States District Court for the Southern District of New York or, if such court would not have jurisdiction over the matter, then only in a Federal or New
York State court sitting in the Borough of Manhattan, City of New York. Each Party submits to the exclusive jurisdiction of these courts and agrees not to
commence any legal action under or in connection with the subject matter of this Agreement in any other court or forum. Each Party waives any objection to the
laying of the venue of any legal action brought under or in connection with the subject matter of this Agreement in the Federal or New York State courts sitting
in the Borough of Manhattan, City of New York, and agrees not to plead or claim in such courts that any such action has been brought in an inconvenient forum.
THE PARTIES WAIVE ANY RIGHT TO TRIAL BY JURY IN ANY COURT WITH RESPECT TO ANY CONTRACTUAL, TORTIOUS OR STATUTORY
CLAIM, COUNTERCLAIM OR CROSS-CLAIM AGAINST THE OTHER ARISING OUT OF OR CONNECTED IN ANY WAY TO THIS AGREEMENT,
BECAUSE THE PARTIES HERETO, BOTH OF WHOM ARE REPRESENTED BY LEGAL COUNSEL, BELIEVE THAT THE COMPLEX
COMMERCIAL AND PROFESSIONAL ASPECTS OF THEIR DEALINGS WITH ONE ANOTHER MAKE A JURY DETERMINATION NEITHER
DESIRABLE NOR APPROPRIATE.
16. Notice. All notices, consents, approvals, waivers or other communications required or permitted to be given hereunder shall be in writing (each a “Notice”)
and shall be: (a) delivered personally or by commercial messenger; (b) sent via a recognized overnight courier service; (c) sent by registered or certified mail,
postage pre-paid and return receipt requested; or (d) sent by e-mail transmission, provided that in the case of this clause (d), such Notice is sent or delivered
contemporaneously by an additional method provided in clause (a), (b) or (c) above; in each case, so long as such Notice is addressed to the intended recipient
thereof as set forth below (as may be changed by the applicable Party by providing a Notice of such change to the other Party in accordance with this Section
16). Any Notice shall be deemed given upon actual receipt (or refusal of receipt).
If to iHeartMedia: If to Customer:
iHeartMedia + Entertainment, Inc. Hightimes Holding Corp.

125 West 55th Street, 11th Floor 10990 Wilshire Boulevard,
New York, NY 10019 Penthouse
Attention: Joe Robinson Los Angeles, California 90024
E-mail: Attention: Adam Levin, CEO
JoeRobinson@iheartmedia.com Email: adam@hightimes.com
12
with a copy to: with a copy to:
Proskauer Rose LLP CKR Law, LLP

Eleven Times Square 1800 Century Park East, 14th floor
New York, NY 10036 Los Angeles, CA 90067
Attention: James P. Gerkis Attention: Stephen A. Weiss
Jeffrey D. Neuburger Email: sweiss@ckrlaw.com
E-mail: jgerkis@proskauer.com
jneuburger@proskauer.com
17. Publicity. Without limiting Section 5, neither Party shall issue a press release or other public statement about this Agreement without the prior written
approval of the other Party.
18. Amendment or Supplement. No amendment of or supplement to this Agreement shall be valid unless in writing signed by the Parties hereto.
19. Entire Understanding. This Agreement is being entered into in connection with the Note. This Agreement, together with the Note, constitutes the entire
understanding and agreement of the Parties and BMH with respect to the subject matter hereof, and any and all prior agreements, understandings and
representations regarding the subject matters hereof are hereby terminated and canceled in their entirety and are of no further force and effect. There are no
agreements, restrictions, promises, warranties, covenants or other undertakings regarding the subject matter hereof other than those expressly set forth in this
Agreement or the Note, and no previous negotiations, drafts or versions of this Agreement shall be used by either Party to construe or affect the validity of this
Agreement.
20. Counterparts. This Agreement may be executed (including by facsimile, PDF copy or other similar electronic transmission) with counterpart signature pages
or in any number of counterparts, each of which shall be deemed to be an original as against any Party whose signature appears thereon, and all of which shall
together constitute one and the same instrument. This Agreement shall become binding when one or more counterparts hereof, individually or taken together,
shall bear the signatures of all of the Parties reflected hereon as the signatories.
21. Attorneys’ Fees. If any action at law or in equity (including arbitration) is necessary to enforce or interpret the terms of this Agreement, the prevailing party
will be entitled to reasonable attorneys’ fees, costs and disbursements, in addition to any other relief to which the prevailing party may be entitled, including all
reasonable attorneys’ fees, costs and disbursements incurred to enforce this Section 21.
22. Equitable Relief. The Parties acknowledge and agree that any breach or threatened breach of the Parties’ obligations under Section 5 will result in
irreparable injury to the non-breaching Party. Accordingly, in the event of any such breach or threatened breach, in addition to any other rights or remedies that
may be available to the non-breaching Party, the non-breaching Party shall be entitled to preliminary and permanent injunctive relief, without the necessity of
proving irreparable injury or actual damages and without the necessity of posting a bond.
13
23. Interpretation. In this Agreement, (a) words in the singular shall be deemed to include the plural and vice versa; (b) the terms “hereof,” “herein,” and
“herewith” and words of similar import shall, unless otherwise stated, be construed to refer to this Agreement as a whole (including all of the Appendices
hereto); (c) Section and Appendix references are to the Sections and Appendices to this Agreement unless otherwise stated; (d) unless otherwise stated, all
references to any agreement shall be deemed to include the exhibits, schedules and annexes to such agreement; (e) the word “including” and words of similar
import when used in this Agreement shall mean “including, without limitation,” unless otherwise stated; (f) the word “or” shall not be exclusive; (g) unless
otherwise specified in a particular case, the word “days” refers to calendar days; (h) references to “business day” shall mean any day other than a Saturday, a
Sunday or a day on which banking institutions are generally authorized or required by law to close in the United States; (i) references herein to this Agreement
or any other agreement contemplated herein shall be deemed to refer to this Agreement or such other agreement as of the date on which it is executed and as it
may be amended, modified or supplemented thereafter, unless otherwise stated; (j) unless expressly stated to the contrary in this Agreement, all references to
“the date hereof,” “the date of this Agreement,” and “hereupon” and words of similar import shall all be references to the Effective Date; (k) any provision of
this Agreement that purports to impose any obligation on any Affiliate of a party shall be interpreted to be an obligation for such party to cause such Affiliate to
perform such obligation; and (l) except as otherwise provided herein, the rights, powers and remedies provided by this Agreement are cumulative and are in
addition to, and not in limitation of, any other rights, powers and remedies provided under this Agreement, by law or in equity. This Agreement shall be deemed
to be the joint work product of the parties and any rule of construction that a document shall be interpreted or construed against a drafter of such document shall
not be applicable to this Agreement.


done.
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[Remainder of page intentionally left blank. Signature page follows.]
14
IN WITNESS WHEREOF, each of the undersigned has duly executed this Agreement as of the Effective Date.
IHEARTMEDIA +
ENTERTAINMENT, INC.
By: /s/ Joseph Robinson

Joseph Robinson
Authorized Signatory
HIGHTIMES HOLDING CORP.
By: /s/ Adam Levin

Name: Adam Levin
Title: CEO
[Signature page to Advertising Agreement]
15
Appendix 1
Definitions
Affiliate. The term “Affiliate” shall mean, with respect to a Person, any other Person that Controls, is Controlled by, or is under common Control with, that
Person, and for Customer shall include any Person that meets the Control test whether before or after the Effective Date.
Claim. The term “Claims” shall mean any claim or other demand, or any civil, criminal, administrative, or investigative claim, suit, action, or proceeding
(including arbitration) asserted, commenced or threatened against a Person.
Confidential Information. The term “Confidential Information” shall mean, with respect to a Party: (a) any trade secret or other confidential, proprietary, non-
public, or other like information of such Party, its directors, officers, employees, customers, or third parties to whom it owes a duty of confidentiality (including
the terms of any transaction relating to or involving such directors, officers, employees, customers, or third parties); (b) any employment information, such as
compensation (including proposed compensation), benefits, disciplinary records, performance records and other data of such Party; (c) the existence and terms
of this Agreement; and (d) any other information of such Party that the Receiving Party knows or reasonably ought to know to be proprietary or confidential.
The Media Plans and the Valuation Schedule shall be deemed the Confidential Information of iHeartMedia.
Control. The term “Control” (including with correlative meanings, the terms “Controlling,” “Controlled by” and “under common Control with”) shall mean
the possession directly or indirectly of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of
voting securities, by trust, management agreement, contract or otherwise; provided, however, that with respect to iHeartMedia and its Affiliates, beneficial
ownership of forty-nine (49%) or more of the voting securities of a Person shall be deemed to be Control.
Disclosing Party. The term “Disclosing Party” shall mean a Party that discloses Confidential Information to the other Party pursuant to this Agreement.
iHeartMedia Competitor. The term “iHeartMedia Competitor” shall mean any Person that competes in whole or in part with the business of iHeartMedia or any
of its Affiliates.
Indemnified Party. The term “Indemnified Party” shall mean, as applicable, either (a) iHeartMedia and its Affiliates, and their respective equity holders,
directors, officers, employees, agents, customers, contractors, sub-contractors and licensors, or (b) Customer and its Affiliates, and their respective equity
holders, directors, officers, employees, agents sub-contractors and licensors.
Indemnifying Party. The term “Indemnifying Party” shall mean the Party obligated to indemnify an Indemnified Party pursuant to this Agreement.
Losses. The term “Losses” shall mean all losses, liabilities, damages, liens, fines, penalties, and related costs, expenses and other charges suffered or incurred as
a result of or in connection with a Claim, including reasonable legal fees and disbursements, costs of investigation, litigation, settlement, judgment, and appeal,
remediation obligations and corrective actions required by any applicable law, rule or regulation, and any Taxes, interest, fines, and penalties with respect to any
of the foregoing.
Person. The term “Person” shall mean a natural person, partnership, corporation, limited liability company, business trust, joint stock company, trust,
unincorporated association, joint venture or other entity or organization.
Receiving Party. The term “Receiving Party” shall mean a Party that receives Confidential Information from the other Party pursuant to this Agreement.
Reference:
Security Exchange Commission - Edgar Database, EX1SA-6 MAT CTRCT 2 f1u092418ex6-1_hightimes.htm ADVERTISING
AGREEMENT, DATED SEPTEMBER 26, 2018, BETWEEN IHEARTMEDIA + ENTERTAINMENT, INC. AND HIGHTIMES
HOLDING CORP., Viewed October 25, 2021, View Source on SEC.
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[Remainder of page intentionally left blank. Signature page follows.]

By: /s/ Joseph Robinson

HIGHTIMES HOLDING CORP.

By: /s/ Adam Levin

[Signature page to Advertising Agreement]

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